Braze (NASDAQ:BRZE) Trading Down 3.6% After Insider Selling

Braze, Inc. (NASDAQ:BRZE)’s stock price was down 3.6% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $30.01 and last traded at $30.50. Approximately 152,461 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,022,892 shares. The stock had previously closed at $31.63.

Specifically, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BRZE shares. DA Davidson decreased their target price on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $48.00 to $56.00 in a research report on Wednesday, July 10th. Oppenheimer decreased their target price on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. TD Cowen decreased their target price on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Barclays decreased their target price on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Eighteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $58.53.

Braze Price Performance

The business has a 50 day moving average of $37.10 and a 200 day moving average of $38.91. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -23.64 and a beta of 1.03.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the prior year, the business posted ($0.30) earnings per share. The business’s revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts forecast that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Institutional Trading of Braze

A number of large investors have recently bought and sold shares of BRZE. Goldman Sachs Group Inc. grew its position in Braze by 21.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 375,923 shares of the company’s stock valued at $19,973,000 after acquiring an additional 65,973 shares during the period. Vanguard Group Inc. grew its position in Braze by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after acquiring an additional 480,179 shares during the period. Harbour Capital Advisors LLC grew its position in Braze by 10.2% in the first quarter. Harbour Capital Advisors LLC now owns 12,980 shares of the company’s stock valued at $561,000 after acquiring an additional 1,205 shares during the period. Diversified Trust Co grew its position in Braze by 28.1% in the first quarter. Diversified Trust Co now owns 20,728 shares of the company’s stock valued at $918,000 after acquiring an additional 4,551 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Braze by 0.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 302,625 shares of the company’s stock worth $13,406,000 after purchasing an additional 984 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.